The Canadian Investment Regulatory Organization (CIRO) is publishing Phase 2 of its Rule Consolidation Project rule proposals, for comment. The Phase 2 Proposed DC Rules involve the adoption of rules relating to: margin, debt markets and Inter-Dealer Bond Brokers (IDBBs), and trading. Comments on the Phase 2 Proposed DC Rules should be in writing and delivered by March 11, 2024.

SEE MORE

OSC Staff Notice 11-739 (revised) has been issued by the Ontario Securities Commission. Revisions have been made to the Table of Concordance and List of New Instruments. The full version of the Table of Concordance and List of New Instruments as of December 31, 2023, can be found on the OSC Website.

SEE MORE

The Financial Services Regulatory Authority of Ontario (FSRA) is proceeding with a rule change on the use of deferred sales charges (DSCs) for investors with existing segregated fund contracts. The rule amendment requires insurers to remove the DSC option for deposits to existing segregated fund contracts and provide investors with disclosure about their options.

SEE MORE

The Stephanie McManus Award was presented to Joanne Attridge, for her outstanding contributions to the ACCP in 2023. The award was renamed to honour the memory of long time ACCP member and former ACCP Chair, Stephanie McManus. Congratulations, Joanne!

CIRO has published new harmonized Sanction Guidelines, which takes effect February 1, 2024, replacing all previous Sanction Guidelines of both IIROC and the MFDA. CIRO has also introduced Enforcement Staff Policy Statements to encourage early resolution of cases and set out Enforcement Staff’s common issues that arise in disciplinary hearings.

SEE MORE

The European Securities and Markets Authority (ESMA) announced the launch of a compliance review that will target benchmark administrators as part of the ongoing fight against greenwashing. The review will cover the disclosure of ESG factors and specific disclosure requirements regarding climate benchmarks.

SEE MORE

The European Securities and Markets Authority (ESMA) says that retail investment firms need policies in place to ensure their use of social media, finfluencers and gamification techniques comply with their regulatory obligations. The paper examines online marketing tactics and looks at industry firms use of “digital engagement” practices.

SEE MORE

CIRO posted the Monthly Financial Report (MFR) filing deadlines for 2024. The dates are based on a 20-business day reporting cycle, taking into consideration Canadian and Provincial statutory holidays. Delays in the SIRFF electronic filing will trigger a late filing fee of $100 per calendar day.

SEE MORE

The CSA and CIRO added to their warning about referencing or participating in awards based on sales, assets under management or revenue generation, during client-facing interactions. The CSA and CIRO updated their frequently asked questions document, which now lists additional types of prohibited client-facing interactions for advisors.

SEE MORE

According to a follow-up report from the Office of the Auditor General of Ontario, (OAG) the Ontario Securities Commission (OSC) and the provincial government have taken action on most of the recommendations from a recent audit. Some key items, such as adopting best-interest standards and a decision on fully banning trailers, remain outstanding.

SEE MORE